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Chosun Refractories Co.,Ltd. (462520) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Chosun Refractories Co.,Ltd. KRW 5,330, price KRW 12,720, upside -58.1%, quality 53 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Basic Materials · KR

CR Some data Sep 24, 2026

Chosun Refractories Co.,Ltd.

462520 · KO

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value 5,330 KRW · Strongly overvalued (−58%)
!Quality 53/100
!Expensive Growth (revenue YoY +6.3 %/yr)
!Thin margins · 1.2% net margin (TTM)
!negative free cash flow
·14.15% dividend yield
✓Ranks above peers (5/8)
!Narrow moat 29/100
!Evidence only medium, so the estimate is less certain
!Weak on future: 4 out of 100
!Weak on past: 12 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

52,371 KRW 10,777 KRW Fair Value 5,330 KRW Jul 2023 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

38‑month range 10,777 KRW – 52,371 KRW · fair‑value band 3,731 KRW – 6,145 KRW · the 12,720 KRW price screens above the 5,330 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Chosun Refractories Co.,Ltd. engages in the manufacture and sale of refractory products.

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Chosun Refractories Co.,Ltd. engages in the manufacture and sale of refractory products. It offers shaped refractories, such as alumina, fireclay, silicon carbide, special, acid-proof and heat-resistant, insulating fire, and magcarbon; monolithic refractories, including castables, gunning refractories, plastic refractories, ramming mix and induction furnace, blast furnace runner refractories, ladle and turndish refractories, flame-gunning repair refractories, mortar, and casting blocks; slide gate valves, comprising top, collector, porous, and sliding nozzles; and sliding nozzle plates. The company also provides continuous casting nozzles, such as shroud, long stopper, and submerged nozzle. Chosun Refractories Co.,Ltd. was founded in 1947 and is based in Kwangyang, South Korea.

Stock analysis

Chosun Refractories Co.,Ltd. (462520) currently trades at 12,720 KRW, while our model-based Fair Value estimate is 5,330 KRW, implying the stock looks roughly 138.6% overvalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of 12,520 KRW per share, and 5 of the 14 models we run sit above the 12,720 KRW price.

Bear case: the Multiples group reads lowest at 3,940 KRW, and 9 of the 14 models stay below the price. Evidence for this calculation is medium.

Scenario range: 3,731 KRW (bear) to 6,145 KRW (bull), the price of 12,720 KRW sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 53/100 (solid quality), in the Basic Materials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Chosun Refractories Co.,Ltd. reported revenue of 532B KRW in FY2025 versus 279B KRW in FY2023, a compound +38.0%/yr. Reported net income was 2.2B KRW in FY2025, compounding −69.3%/yr from FY2023.

Key figures

Market cap 151B KRW (≈ $111M) · P/S ratio 0.30 · Dividend yield 14.2% · Net margin 0.4% · Return on equity 3.0% · Return on assets (EBIT) 5.2% · Operating margin 6.8% · Revenue (TTM) 533B KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 21% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −47% fair-value upside, at −58%, 462520 screens richer than that median.

Fair Value models

Bear 3,731 KRW Fair Value 5,330 KRW Bull 6,145 KRW
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income 11,446 KRW 10,186 KRW 6,365 KRW 69
EPV 14,402 KRW 15,765 KRW 16,872 KRW 68
EV/EBITDA 31,824 KRW 41,419 KRW 51,014 KRW 64
All 14 models by family
Earnings-Based
Graham-Dodd 1,276 KRW 8,897 KRW 12,485 KRW 57
Lynch FV 2,772 KRW 3,960 KRW 5,149 KRW 55
PEG = 1.0 2,772 KRW 3,960 KRW 5,149 KRW 52
EPV 14,402 KRW 15,765 KRW 16,872 KRW 68
Multiples
P/E Multiple 2,955 KRW 3,940 KRW 4,925 KRW 63
P/S Multiple 2,392 KRW 3,189 KRW 3,987 KRW 58
P/B Multiple 2,392 KRW 3,189 KRW 3,987 KRW 55
EV/EBIT 28,713 KRW 37,271 KRW 45,829 KRW 63
EV/EBITDA 31,824 KRW 41,419 KRW 51,014 KRW 64
EV/Revenue 21,363 KRW 29,217 KRW 37,070 KRW 51
Asset-Based
NCAV (Graham) 9,343 KRW 12,520 KRW 18,686 KRW 51
Economic Profit
Residual Income 11,446 KRW 10,186 KRW 6,365 KRW 69
ROIC Compounder 14,402 KRW 15,765 KRW 16,872 KRW 64
Growth Earnings
Growth-Adj P/E 3,731 KRW 5,330 KRW 6,930 KRW 61

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Quality Score breakdown

Overall quality 53/100

Of which business quality 50 · Market factors (momentum, volatility) 40

Profitability 31
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 37
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 80
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 40/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed

462520 screens 139% overvalued. Compare with CRH plc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Building Materials · 258 stocks

Beats the industry median on 5/8 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 53 · Above median
Fair Value upside −58% · Bottom 25%
Profitability
Return on equity (TTM) 3% · Below median
Return on assets 3% · Above median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 7% · Above median
Growth and dividend
Revenue growth 1% · Above median
Dividend yield (TTM) 14.2% · Top 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 26
FUTURE (revenue growth)4 · sector 2
PAST (return on equity)12 · sector 15
HEALTH (low debt)0 · sector 92
DIVIDEND (yield)100 · sector 46

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Building Materials stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
CRH plc CRH $88.04 $74.79 −15%
Holcim AG HOLN CHF 66.32 CHF 33.05 −50%
Vulcan Materials Company VMC $247.87 $131.48 −47%
UltraTech Cement Limited ULTRACEMCO ₹11,155 ₹4,719 −58%
Martin Marietta Materials, Inc MLM $499.34 $245.83 −51%
China Jushi Co 600176 ¥45.62 ¥29.50 −35%
Amrize AG AMRZ $39.00 $34.66 −11%
Grasim Industries Limited GRASIM ₹3,189 ₹1,245 −61%
CEMEX, S.A. CX $10.24 $25.27 +147%
James Hardie Industries plc JHX A$38.17 A$7.93 −79%

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Chosun Refractories Co.,Ltd. · Fair Value
5,330 KRW −139%Fair Value
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Cite: Fair Value Calculator (2026). "Chosun Refractories Co.,Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/462520

Frequently asked questions

Is Chosun Refractories Co.,Ltd. (462520) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 5,330 KRW versus a price of 12,720 KRW, about −58% upside (overvalued).
What is the fair value of 462520?
Our model-based fair value for Chosun Refractories Co.,Ltd. is 5,330 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 12,720 KRW.
What is the quality score of 462520?
Chosun Refractories Co.,Ltd. has a Quality Score of 53/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Chosun Refractories Co.,Ltd. (462520)?
Our model-based price target is the fair value of 5,330 KRW (as of Sep 24, 2026) from 14 valuation models. Cautious scenario 3,731 KRW, optimistic scenario 6,145 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Chosun Refractories Co.,Ltd. stock forecast for 2026?
Our models put fair value at 5,330 KRW, about −58% upside versus a price of 12,720 KRW (overvalued). Cautious scenario 3,731 KRW, optimistic scenario 6,145 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Chosun Refractories Co.,Ltd. (462520)?
Chosun Refractories Co.,Ltd. reported trailing-twelve-month revenue of about 533B KRW (latest available figure, as of Sep 24, 2026).
Does Chosun Refractories Co.,Ltd. pay a dividend?
Chosun Refractories Co.,Ltd. currently shows a dividend yield of about 14.15% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Chosun Refractories Co.,Ltd. (462520)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Chosun Refractories Co.,Ltd. it is 5,330 KRW per share (as of Sep 24, 2026), against a price of 12,720 KRW. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Chosun Refractories Co.,Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 462520 trades above its calculated fair value: price 12,720 KRW, fair value 5,330 KRW, a gap of about −58% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 462520?
No. The price is what the market pays today (12,720 KRW); the fair value is what the company's own numbers justify (5,330 KRW). For Chosun Refractories Co.,Ltd. the two are 7,390 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Chosun Refractories Co.,Ltd. worth?
The market values Chosun Refractories Co.,Ltd. at about 151B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 12,720 KRW; our models calculate a fair value of 5,330 KRW per share.
What do the bullish and bearish scenarios say about 462520?
Our models span a range for Chosun Refractories Co.,Ltd.: cautious scenario 3,731 KRW, base 5,330 KRW, optimistic 6,145 KRW per share (as of Sep 24, 2026, price 12,720 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Chosun Refractories Co.,Ltd. (462520)?
Balance-sheet figures for Chosun Refractories Co.,Ltd. (as of Sep 24, 2026): return on equity 3.0%. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is 462520 from its 52-week high?
Chosun Refractories Co.,Ltd. trades at 12,720 KRW, about 21% below its 52-week high of 16,052 KRW and 2% above the low of 12,411 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 5,330 KRW is for.
Which stocks are comparable to Chosun Refractories Co.,Ltd.?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Vulcan Materials Company, UltraTech Cement Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Chosun Refractories Co.,Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price 12,720 KRW, calculated fair value 5,330 KRW (−58%), Quality Score 53/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 462520 calculated?
We run Chosun Refractories Co.,Ltd. through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 5,330 KRW, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. Chosun Refractories Co.,Ltd. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Chosun Refractories Co.,Ltd. (462520)?
The closing price on Sep 23, 2026 was 12,720 KRW. Our model-based fair value is 5,330 KRW, about −58% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Chosun Refractories Co.,Ltd. right now?
The price sits above even our optimistic bull case (6,145 KRW). The favourable scenario is already priced in. Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Chosun Refractories Co.,Ltd.

How large is the market capitalisation of Chosun Refractories Co.,Ltd. (462520)?
The market capitalisation of Chosun Refractories Co.,Ltd. is 151B KRW (≈ $111M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Chosun Refractories Co.,Ltd. (462520)?
The price-to-sales ratio of Chosun Refractories Co.,Ltd. is 0.30 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Chosun Refractories Co.,Ltd. (462520)?
The dividend yield of Chosun Refractories Co.,Ltd. is 14.2%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Chosun Refractories Co.,Ltd. (462520)?
The net margin of Chosun Refractories Co.,Ltd. is 0.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Chosun Refractories Co.,Ltd. (462520)?
The return on equity (ROE) of Chosun Refractories Co.,Ltd. is 3.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Chosun Refractories Co.,Ltd. (462520)?
On an EBIT basis the return on assets of Chosun Refractories Co.,Ltd. is 5.2% (avg 3y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Chosun Refractories Co.,Ltd. (462520)?
The operating margin of Chosun Refractories Co.,Ltd. is 6.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Chosun Refractories Co.,Ltd. (462520)?
Revenue at Chosun Refractories Co.,Ltd. is growing +0.8% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Chosun Refractories Co.,Ltd. (462520)?
Earnings per share at Chosun Refractories Co.,Ltd. are growing +129% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Chosun Refractories Co.,Ltd. (462520) generate?
The free cash flow of Chosun Refractories Co.,Ltd. is −3.9B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Chosun Refractories Co.,Ltd. (462520) carry?
The net debt of Chosun Refractories Co.,Ltd. is 160B KRW (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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